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Which Industries Need Background Verification Services?

Which Industries Need Background Verification Services?

Lying on a resume is more often than you would think, and inquiring about the person’s past might not always give you a straight answer. The forgery is often far from the white lie or harmless embellishment and can be a complete stretch from the truth. From covering up the criminal record to lying about the capabilities of the candidate and the qualifications, dishonesty becomes a massive headache for the employer.

The dishonesty is not just seen in the IT industry but it is widespread in several governments and private companies of all sectors. Jobseekers do many falsifications to get their dream job rather than working hard and achieving it. This is not just a liability to any company but also a red signal for your clients to judge your organization. To save organizations, from these frauds, employment background verification checks are conducted as a safe step to ensure a genuine and healthy workspace.

The employee background verification services help employers in weeding out the fraudulent and less compatible candidates from the bunch and provide genuine and talented candidates that contribute to the growth of the organization. Read on to learn more about the top industries that can benefit from background verification services.

Child Care:

Whether you are running a large-scaled preschool or a small daycare, an orphanage, or any other early development facility for children, you need to be sure about your staff because your staff is responsible for taking care of all the requirements and needs of the organization. If any plight takes place because of the employees, as an entrepreneur only you are responsible for breaking the law and there can be a chance of drawing back into a criminal case on your organization.

A professional background verification company will look through the National Sex Offender Registry (it is a national database search for the electronic records that are associated with the candidate) and will also check the Aadhar details of the candidate to confirm the personal details and information of the candidate. You are responsible for the safety and responsibility of the children. Henceforth, working closely with a professional background verification agency helps you achieve a safe space.

Banking

Banking sectors must be cautious while hiring employees because managing other people’s finances is not a joke and there is a possibility of internal theft or fraud. To minimize this risk, running background verification services is necessary. The pre-employment screening services check the details and conduct of the candidate and help you better in judgment while screening the candidates for the position.

Before conducting background verification services for the banking industry, the employer has to submit the applicant or a disclosure form informing them consumer report the employer would obtain for the employment. The applicant has to sign the agreement notifying them that they are consent to the pre-employment screening.

IT Sector

The growth of the Indian IT sector has increased massively in recent years along with the fraudulent cases. The nature of frauds in the IT sector encompasses a wide range: including the theft of data, stealing passwords, hacking the client’s accounts, unlawful data breaches, selling data to competitor companies, and doing other possible scams.

To prevent these, conducting employee background verification is necessary for the IT sector. In background screening, criminal records are checked in the database including digital address verification, previous employment verification, police verification, court verification, and many more that can help you hire the right candidate.

Financial Service Sector

According to a Global Economic Crime Survey (2014) done by PwC, cybercrime has been reported as one of the top economic crimes across the world, including India. The number of frauds involves cooperation from the employees of financial institutions. The study also suggests that a large number of junior-level employees working in financial services are carrying fraud quite easily. The reason could be financial products are more complex in function and design. In this kind of scenario conducting background verification services are necessary.

Conclusion

Many institutions and organizations are benefiting from background check services to prevent fraudulent candidates. It is important to acknowledge that these background services are competent, accurate, and reliable. Always stay a step ahead in protecting your organization and client’s data safe. When you hire a background verification company, ask for their references, turnover rate, and dispute percentage.

If you are working in an IT sector, childcare, financial service sector or bank TrueCv can help you! Contact TrueCv today and get your candidate's background verified for safe and confident hiring.